News & trendsMarket conditions

RealtyTrac reports foreclosure inventory up 33% in Illinois year-over-year

by Joe Zekas on 1/18/13

RealtyTrac released its Year-End 2012 U.S. Foreclosure Market Report yesterday, and Illinois earned an unenviable spot in a number of its rankings.

Illinois was in third place among the states in foreclosure inventory, i.e. the number of homes bank-owned or in some stage of foreclosure. Illinois’ foreclosure inventory amounted to 135,858 properties, comprising 9% of the nation’s foreclosure inventory. Florida accounted for the biggest share of foreclosure inventory with 305,766 properties (20 percent of the national total), followed by California with 212,172 (14 percent).

CNN Money, using RealtyTrac data, has posted an interactive map of the 100 ZIP Codes with the highest foreclosure rates in the country. ZIP Code 60651, which includes most of West Humboldt Park and part of Austin, was the only Chicago ZIP Code to make the list. It had 935 foreclosure properties, ranking it 87th on the list. Fourteen Chicago suburbs made the list, led by Round Lake (#4), Cicero (#8), Chicago Heights (#21) and Berwyn (#25).

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